Strava, Inc., a San Francisco-based developer of Web and mobile apps for athletes, has raised $12.6m in a Series B funding.
The round was led by Madrone Capital, with participation from existing investor Sigma Partners, which led the Series A funding (read here).
The company intends to use the funds to extend to other sports beyond cycling (including running and triathlon in the near term) and expand to mobile platforms (it is currently available for iPhone and Android) and internationally.
Founded by CEO Michael Horvath, and Mark Gainey, Strava provides GPS-based solutions that enable (Garmin) users to track milestones and compete with themselves and others to improve their performance.
FinSMEs
27/07/2011